Wednesday, 03 April 2019 13:32

An ever-evolving retail property market

Competition in South Africa’s retail market is intense, with more than 25 million square metres of formal retail space currently, in excess of 2,000 existing shopping centres and close to three million square metres of formal retail space in the pipeline.

It is nearly universally accepted that good infrastructure has significant benefits for the economy and peoples’ quality of life. South Africa currently has a predicted annual infrastructure spend of US$50bn a year by 2030.

The Monetary Policy Committee (MPC) of the Reserve Bank has once again decided to leave South Africa’s repo rate unchanged at 6,75% and prime interest rate the same at 10,25%.

With inflation currently below the mid-point of the Reserve Bank’s inflation target and economic growth remaining sluggish, the Monetary Policy Committee kept the repo rate steady at 6.75%, as expected.

Construction of Divercity Urban Property Fund’s iconic Jewel City redevelopment is forging ahead.

Transnet National Ports Authority’s (TNPA) Port of Ngqura is the only port with a green status in the South African port system and maintains this status through a number of innovative measures.

Fortress REIT Limited, the diversified property group, is preparing to welcome Makro as the first tenant in its 28 hectare Cornubia Ridge Logistics Park, which is strategically located close to Durban’s thriving business and residential hub of Umhlanga as well as King Shaka International Airport and the Dube TradePort.

Leading global technology provider SKF, headquartered in Sweden, has concluded a lease agreement in Jet Park with a value of more than R120 million.

The SA REIT (Real Estate Investment Trust) sector has published a draft second edition to its best practice recommendations for public comment.

Women’s Property Network (WPN) Gauteng Chapter hosted their Annual Leadership Conference on Friday, 8th March 2019 in Rosebank, Johannesburg.

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